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7th Edition: 2/10/14-2/14/14
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Reno & Cavanaugh's Housing Notices Newsletter contains weekly notices, proposed rules and relevant information on HUD policy and regulations. For more information, please visit www.renocavanaugh.com and R&C's Housing Policy Group's webpage. |
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News of Note:
1. Extended RAD Authority Implemented (2nd Component): HUD issued a second revision to PIH 2012-32 (the RAD Notice), implementing the extended RAD Authority. In January, Congress extended RAD Authority through December 31, 2014 as part of the FY2014 Appropriations Act. The extension of RAD authority will allow owners with Rent Supplement, RAP or Mod Rehab contracts to convert their assistance to project-based vouchers through the end of the year under the second component of RAD, subject to the availability of appropriations for tenant protection vouchers. The extended authority should allow many more of these projects the opportunity to convert and extend their project-based subsidies. This extended RAD authority does not raise the 60,000 unit cap on 1st Component RAD conversions affecting public housing and Mod Rehab developments. To learn more, please contact Sarah Molseed or any R&C attorney.
2. HUD released an OIG Audit Report determining that HUD's Boston Office of Public Housing failed to implement environmental review properly and called for the recapture of over $83.8M from public housing authorities.
3. January Housing Scorecard [PDF].
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